CETES (Mexican Federal Treasury Certificates) are credit instruments issued by the Federal Government since 1978 made out to the bearer which establish its obligation to pay their nominal value at maturity. The instrument was issued in order to influence monetary mass regulation, finance productive investment and encourage the healthy development of the securities market. The mechanism captures funds from individuals and corporations who are guaranteed a fixed income. The yield the investor receives consists of the difference between the purchase and sale price.
CETES capture funds from individuals and corporations; they are placed through brokerage houses at a discount rate and backed by Banco de México acting as the Federal Government’s financial agent.
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